OcuKey Therapeutics Secures Over RMB 100 Million Series A Financing to Accelerate Clinical Development of Multispecific Ophthalmic Biologics in the US and China

Recently,Shenzhen OCULGEN Biopharmaceutical Technology Co., Ltd. (“OCULGEN”) has successfully completed its Series A financing round, raising over RMB 100 million. The round was led by LongRiver Investment, with participation from Nanshan SEI Investment, Junshi Ventures, BioTrack Capital, and China Tsing Song Investment. YuanBio Venture Capital, an angel-round investor, continued to increase its investment. The proceeds will accelerate the clinical development of OCULGEN’s multi-specific antibody pipeline in both China and the United States, providing solid financial support for the company’s further growth.

OCULGEN focuses on the research and development of innovative macromolecular drugs for common fundus diseases. Leveraging the founding team’s extensive industrialization experience in ophthalmic new drug development, the company has continuously advanced its R&D progress and achieved remarkable results in 2024. Notably, its core product OCUL101, which possesses exclusive independent intellectual property rights, has demonstrated outstanding performance. Within just two years of the company’s establishment, OCUL101 completed dual regulatory filings in both China and the United States, subsequently receiving clinical trial approvals from the FDA on November 19, 2024, and from the Center for Drug Evaluation (CDE) on January 9, 2025. It is the world’s first innovative dual-target, triple-effect antibody, uniquely targeting three indications: neovascular age-related macular degeneration (nAMD), diabetic macular edema (DME), and geographic atrophy (GA). OCUL101 is poised to become the first domestic drug targeting GA and the first ophthalmic medication worldwide to simultaneously cover all three aforementioned indications, offering new therapeutic hope to millions of patients in China with currently untreatable conditions, as well as to fundus disease patients globally. The funds from this round will be utilized to efficiently advance the clinical trials of OCUL101 in both China and the United States. OCULGEN is fully committed to accelerating drug development to bring this beacon of hope to reality as soon as possible.

OCULGEN Pipeline Progress Source: OCULGEN Official Website

In addition to OCUL101, OCULGEN has established a comprehensive portfolio targeting various common fundus diseases. The company also has multiple multi-specific antibody candidates in the preclinical stage, with Investigational New Drug (IND) applications expected to be submitted sequentially in both China and the United States by the end of 2025. These products will form a robust therapeutic system to address the substantial unmet clinical needs of ophthalmic patients, providing more options with enhanced efficacy and improved accessibility for the treatment of eye diseases.

 Dr. Jiongguang Chen, Founder of OCULGEN

Dr. Jiongguang Chen, Founder of OCULGENOCULGEN stated: “Adhering to its mission of ‘bringing innovative ophthalmic medicines to benefit patients worldwide,’ OCULGEN is committed to addressing unmet needs in global clinical ophthalmology. Following this financing round, we will further strengthen our team by attracting top-tier talent, fully integrate resources to steadily advance R&D projects, and actively pursue domestic and international collaborations, striving to achieve a leading position in the global ophthalmic biopharmaceutical sector.”

Looking ahead, Dr. Chen Jiongguang stated, “On the path of innovation in ophthalmology, OCULGEN will remain true to its original mission, providing high-quality treatment solutions for patients worldwide and gradually becoming an industry leader. We look forward to collaborating with partners across all sectors to witness OCULGEN’s bright future together, and we welcome your continued attention to our innovation and growth.”

LongRiver Jiangyuan InvestmentIt stated: “The core team of OCULGEN comprises scarce industrialization talents in the field of macromolecular drugs for fundus diseases, possessing over 10 years of end-to-end experience—from early-stage R&D and process development to clinical management—at top-tier ophthalmic pharmaceutical companies such as Allergan and Santen. With first-class execution capabilities, the team completed dual filings in China and the United States for its first-in-class (FIC) bispecific antibody within just two years. OCUL101 is poised to become the world’s first long-acting macromolecular drug for fundus diseases capable of covering three indications simultaneously (nAMD, GA, and DME), as well as the first domestic drug targeting the GA indication. As a blockbuster category in the global ophthalmology sector, it holds significant promise for the future.”

BioTrack Capitalstated: “We highly recognize the expertise accumulated by Dr. Chen’s OCULGEN team in the field of innovative macromolecular drugs for fundus diseases. The OCULGEN team has long been dedicated to ophthalmic drug development, possessing comprehensive firsthand experience spanning from early-stage research to clinical trials, with unique insights and understanding particularly in translational science. Demonstrating exceptional execution capability, the company advanced its first-in-class (FIC) bispecific antibody into the clinical stage within just two years. We are very optimistic about the company’s growth potential and believe that OCULGEN will become a significant contributor to the field of innovative ophthalmic therapeutics.”

Junshi Ventures“OCULGEN’s product pipeline is poised to further address the need for long-acting therapies in the field of fundus diseases, with the potential to continuously improve patient response and medication adherence. The team’s strong execution capabilities are widely recognized.”

Nanshan SEI InvestmentIt stated: “Biomedicine is one of the key ‘14+7’ strategic and future industries prioritized for development in Nanshan District, with antibody-based macromolecular drugs representing a key focus area. Leveraging the founding team’s extensive industry experience in ophthalmology, OCULGEN completed the end-to-end development of its first antibody drug candidate, OCUL101, in an exceptionally short timeframe. This pipeline has the potential to become the world’s first long-acting fundus medication covering three indications simultaneously: neovascular age-related macular degeneration (nAMD), geographic atrophy (GA), and diabetic macular edema (DME). Through novel structural design and target selection, OCUL101 holds promise to deliver more durable efficacy, superior therapeutic outcomes, and improved accessibility for the over 20 million patients with fundus diseases in China, thereby better addressing their clinical needs.”

YuanBio Venture Capital“YuanBio Venture Capital stated: ‘We are delighted that our portfolio company has gained recognition from numerous prestigious investment institutions in its Series A financing. As the lead investor in OCULGEN’s first round of funding, YuanBio Venture Capital has accompanied the company throughout its journey from inception to rapid growth. Dr. Jiongguang Chen, founder of OCULGEN, not only possesses extensive R&D experience in the field of ophthalmology but also demonstrates strong execution capabilities. Compared with the initial targets, the IND application for OCUL101, the company’s first-in-class (FIC) bispecific antibody fusion protein, was approved by the U.S. FDA six months ahead of schedule. In light of this achievement, YuanBio Venture Capital has made additional investments in the Series A round to continue supporting the company, and we look forward to outstanding performance of OCULGEN’s pipeline in clinical stages.’”

LongRiver Capital, founded by renowned investor Mr. Zhang Jiang, has an initial fund size exceeding USD 400 million. Structured as a 10-year long-term fund, its investors primarily consist of large international institutions and specialized long-term funds. The team focuses on technological innovation sectors such as healthcare, new energy, new materials, and advanced manufacturing, with investment stages spanning from early to late-stage ventures. Leveraging investment management experience from major insurance groups, deep R&D and operational expertise in the technology industry, as well as a global investment perspective and capabilities, LongRiver Capital will continue to integrate new drivers of global industrial development to support and nurture the next generation of industry leaders.

BioTrack Capital, established in 2017, is a specialized investment firm dedicated to investing in and incubating outstanding healthcare startups in the Chinese market. Currently, BioTrack Capital manages two RMB funds and two USD funds, with total assets under management approaching RMB 10 billion. More than just an investor, BioTrack Capital serves as a long-term partner to entrepreneurs. Since its inception, the firm has remained committed to an entrepreneur-centric approach, providing sustained support and active empowerment to exceptional founders in the healthcare sector, fostering an industry ecosystem, and cultivating the next generation of leading enterprises in China’s healthcare industry.

Junshi Ventures is a private equity fund management institution wholly established by Junshi Biosciences (1877.HK, 688180.SH), an innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of innovative therapies. Junshi Ventures is committed to building an industrial ecosystem, promoting synergistic development across the industry chain, and driving technological innovation and industrial upgrading in the biopharmaceutical sector by optimizing capital and resource allocation. Its funds focus on the biopharmaceutical industry, targeting promising therapies in the new drug field and their upstream and downstream sectors, thereby supporting the growth of novel drug companies that address unmet clinical needs.

Nanshan SEI Investment (hereinafter referred to as “Nanshan SEI Investment”) is a wholly state-owned limited liability company established by the Nanshan District Government of Shenzhen. Positioned as the strategic direct investment platform for Nanshan District, the company prioritizes investments in strategic emerging industries and future industries. It focuses on Nanshan’s advantageous industrial sectors, including next-generation information technology, high-end equipment manufacturing, biomedicine, and the digital economy, while systematically laying out its presence in future industry domains. The company aims to facilitate the implementation of major industrial projects for the District Committee and District Government, thereby fostering new momentum for the development of new quality productive forces.

YuanBio Venture Capital is an investment firm focused on the early and growth stages of the healthcare sector. Headquartered in Suzhou BioBAY, it maintains a global reach. To date, YuanBio has invested in over 190 outstanding companies in the life and health sectors, covering four key areas: novel drug development, medical devices, in vitro diagnostics and precision medicine, and future healthcare technologies. The firm has achieved substantial investment returns, with 19 of its portfolio companies having listed on capital markets such as the Hong Kong Stock Exchange and the STAR Market. YuanBio Venture Capital has been repeatedly recognized as one of the Top 10 venture capital funds in China’s healthcare sector and as one of the most active healthcare investment institutions in China. By bringing together seasoned professional investors and a world-class team of scientific advisors, YuanBio possesses extensive experience in entrepreneurship, venture capital, and corporate operations within the biopharmaceutical industry and beyond. Leveraging its professionalism, focus, and abundant industry resources, YuanBio is committed to becoming one of the most successful healthcare and pharmaceutical venture capital funds in China.

Shenzhen OCULGEN Biopharmaceutical Technology Co., Ltd. was established in August 2022, focusing on the research and development of innovative macromolecular drugs for retinal diseases. Its design philosophy consistently adheres to the principles of First-in-Class (FIC) and Best-in-Class (BIC). OCULGEN aims to address unmet clinical needs in the field of ophthalmic diseases in China, Asia, and globally by providing innovative therapies, thereby benefiting a broad population of patients with eye conditions. The company is committed to becoming the first domestic unicorn enterprise independently developing innovative ophthalmic drugs.